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New Jersey Danger Sign The State’s Shrinking Workforce

the staff of the Ridgewood blog

Ridgewood NJ,  according to the Garden State Initiative (GSI) analysis of September’s monthly jobs report for New Jersey showed continued, smaller gains for a state economy that is still struggling to regain last year’s workforce losses .

The bad news is that while New Jersey’s workforce grew in September, it is still smaller by 30,100 individuals compared to September last year. The state’s current workforce is also smaller than the state’s average workforce size in 2008.

September marks the third month that New Jersey’s workforce has grown, following 11 consecutive months that saw the state’s labor force get smaller.

A dangerous sign for New Jersey’s economy over the past three years has been the state’s shrinking workforce compared to the growing national workforce. While three months of improving numbers is still too early to identify any long-term trends, it marks one of the few times in the past three years that New Jersey’s workforce has grown with the national trend.
The national workforce grew by 150,000 individuals in September and has grown by 4.8 million individuals since January 2015. Even with the gains of recent months, New Jersey’s workforce is still smaller than it was in January 2015 by 58,700 individuals.

https://www.gardenstateinitiative.org/updates/2018/10/19/gsi-analysis-sept-18-jobs-report-nj-employment-picture-improves-slightly-growth-still-lagging

 

One thought on “New Jersey Danger Sign The State’s Shrinking Workforce

  1. No no no no….
    See, your reading the numbers all wrong.
    We had an INCREASE in the numbers…3rd month in a row.
    If you take that number and divide it by 12 and subtract 4 and spray it with windex, there you go. All positive!

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